Binoy K.R vs Kerala State Co-Operative Bank
2024 Latest Caselaw 10985 Ker

Kerala High Court

Binoy K.R vs Kerala State Co-Operative Bank on 12 April, 2024

Author: Devan Ramachandran

Bench: Devan Ramachandran

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
     FRIDAY, THE 12TH DAY OF APRIL 2024 / 23RD CHAITHRA, 1946
                      WP(C) NO. 13716 OF 2022


PETITIONER:

          BINOY K.R., AGED 53 YEARS
          S/O.KUNJURAMAN, BINDU BHAVANAM,
          PERINGANADU, ADOOR, PATHANAMTHITTA,
          PIN - 689 711.

          BY ADV V.VISAL AJAYAN


RESPONDENT:

          KERALA STATE CO-OPERATIVE BANK
          VILAVINAL RAJ TOWERS, COLLEGE ROAD,
          PATHANAMTHITTA, PIN - 689 645,
          REPRESENTED BY ITS SECRETARY.

          BY ADV
          N.RAGHURAJ
          K.AMMINIKUTTY


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.04.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC 13716/22
                                     2

                           JUDGMENT

When this matter was called today, the learned Standing

Counsel for the respondent-Bank, submitted that the loan account

of the petitioner involved in this case can be settled for a total

amount of Rs.13,66,796/-, as on 11.04.2024, along with all

applicable charges and interest, provided same is paid by him in

not more than 18 equal monthly installments.

2. The learned counsel for the petitioner - Sri.Vishal

Ajayan V., accepted the afore suggestion.

Taking note of the afore submissions, I allow this Writ

Petition, permitting the petitioner to pay off the aforementioned

amount, along with all applicable charges and interest, in 18 equal

monthly installments commencing from 01.06.2024. He shall, in

addition to this, also pay the regular EMIs without fail.

Needless to say, if the amounts as afore are paid by the

petitioner, the account will stand closed and the Bank will return

to him all security documents as are necessary; but, if on the

contrary, any two installments are defaulted, the benefit of this

judgment will be lost to him and the Bank will be at full liberty to

pursue further action pursuant to Exts.P1 and P2 without having to

obtain further orders from this Court.

It is also needless to say, therefore, that as long as the

amounts as afore are paid, all further action pursuant to Exts.P1

and P2 will stand deferred.

Sd/-

RR                                       DEVAN RAMACHANDRAN
                                                JUDGE



                APPENDIX OF WP(C) 13716/2022

PETITIONER EXHIBITS
Exhibit P1          TRUE COPY OF THE PLAINT SUBMITTED BY THE

RESPONDENT BEFORE THE ASSISTANT REGISTER OF DATED 28/09/2021.

Exhibit P2 TRUE COPY OF THE SUMMON ISSUED BY THE ASSISTANT REGISTER OF KERALA STATE CO-

OPERATIVE BANK TO THE PETITIONER DATED 10/02/2022.